Shock Financial News

World Bank President Ajay Banga said on Tuesday that the Israel-Gaza conflict is an unnecessary global economic shock that will make it harder for central banks to achieve soft landings in many economies if it spreads. «It's a humanitarian tragedy and it's an economic shock we don't need,» Banga told Reuters on the sidelines of the World Bank-International Monetary Fund annual meetings in Morocco. Central banks were «beginning to feel a little more confident that there was an opportunity for a soft landing, and this just makes it harder», Banga said. Banga said there was less immediate economic impact than at the start of Russia's invasion of Ukraine last year because the Israel-Gaza conflict does not impact exports of oil, grains and fertilizers. But it does transmit through financial markets, with dollar assets suddenly rising, he said. Inflation has come down in recent months, prices and wages were stabilizing and markets had become used to the idea that rates would stay higher for longer, Banga said, adding that another prolonged conflict could upset those dynamics. «It's the side effects of all that.

MARRAKECH, Morocco (Reuters) — World Bank President Ajay Banga said on Tuesday that the Israel-Gaza conflict is an unnecessary global economic shock that will make it harder for central banks to achieve soft landings in many economies if it spreads.

Hamas's determination to use social media propaganda alongside violence, experts say. Mor Bayder's phone didn't buzz on Saturday morning — her grandmother's routine call to ask if she was awake. Instead, she discovered her grandmother's «brutal murder» during the Hamas attack on a village bordering the Gaza Strip posted on Facebook, Bayder wrote on the social network. «A terrorist broke into her home, murdered her, took her phone, photographed the horror and posted it on her Facebook wall.

U.K. Labour Party leader Keir Starmer is delivering what amounts to a public job interview for the post of prime minister

The International Monetary Fund warns that the world economy has lost momentum from the impact of higher interest rates, the invasion in Ukraine and widening geopolitical rifts

Gaza is burning as Israeli forces methodically proceed to dismantle its structures of terror. The coming retribution will be terrible, but it is necessary and just. Hamas has lost the right to rule Gaza.

AP reported. Among them, Maya Alper stood at the rear of the bar alongside environmentally conscious volunteers. They diligently cleaned up trash and handed out complimentary vodka shots to those who reused their cups.

Reuters. In a phone interview with Al Jazeera, Moussa Abu Marzouk said that Hamas was open to "something of that sort" and "all political dialogues" when asked whether the Islamist group is willing to discuss a possible ceasefire.

The shock attack by Hamas and Israel’s response risk a wider destabilisation of the region – and the global oil market is watching.

The International Monetary Fund and World Bank are holding their annual meetings in Morocco, one month after an earthquake killed nearly 3,000 people in the North African country

People are digging through the rubble from the quake in western Afghanistan

Investing.com — Gold settled above the mid $1,800 level on Monday in response to the Israel-Hamas war, but the rally in the safe-haven would depend on how far the crisis expands to impact oil and other global markets, analysts said.

Investing.com — Crude prices were up 4% Monday as the latest Middle East crisis  reintroduced geopolitical risk into the oil trade in a way unseen in years, resetting markets that just days ago were depressed more by concerns over the global economy.

Hopes that oil supply might ease a bit next year, and inflationary pressures with it, are fading after Saturday’s shock attack on Israel. On Monday, Brent crude futures rose about 4% to $88 a barrel as traders sized up the potential impact on global supply of a new war in the Middle East. Neither Israel or Palestine are major oil producers, so there isn’t an immediate effect.

MUMBAI : Economists are paring back their expectation of a rate cut to beyond the first quarter of fiscal year 2025, following a hawkish policy stance from the Reserve Bank of India. In its recent policy last week, RBI Governor Shaktikanta Das made it clear that the central bank’s inflation target is 4% and not 2 to 6%. According to RBI’s estimates, inflation is expected to average 4.5% in fiscal year 2025.

Michael Chiarello has passed away at the age of 61 due to a severe allergic reaction. Chiarello, known for his culinary expertise, served as a judge on Bravo's Top Chef and Top Chef Masters. He was a frequent guest on shows like the Today Show and The View.

Rapidly rising Treasury yields have brought back fears of a potential wave of defaults across emerging markets, with investors questioning which countries struggling with heavy debt loads will miss payments or be forced to restructure first.

By Caroline Valetkevitch and Lewis Krauskopf

LONDON (Reuters) -Oil surged, along with European defence stocks, while airline shares plunged after Israel pounded the Palestinian enclave of Gaza in retaliation for one of the bloodiest attacks in its history, unleashing fears of a wider Middle East conflict.

chipmakers, diamond processors and software-services providers. Saturday’s assault has sparked fresh concern about geopolitical risks among investors just when global financial markets were already grappling with the impact of high-interest rates and the slowdown in China’s economy. Oil surged more than 5% while US equity futures dropped in Asia trading, as the risk of the conflict escalating across the Middle East region remains acute. “The Israel-Hamas conflicts over the weekend may escalate geopolitical tensions in the Middle East region, causing risk-off trades,” Tina Teng, an analyst at CMC Markets wrote in a note. “Markets will be concerned about the rippling effects to the region.” The MSCI Asia Pacific Index treaded water as markets in Japan, South Korea and Taiwan were closed for a holiday, while trading in Hong Kong was halted due to a typhoon. Here are some global themes to watch: Technology Chip stocks from Nvidia Corp.

Nijjar, in Canada, an independent blogger, Jennifer Zeng, has said that China's «purpose was to frame India creating discord between India and the West». She also alleged that it was a part of the CCP's sinister «Ignition Plan» to disrupt the world in line with Xi Jinping's military strategy regarding Taiwan. Jennifer Zeng is a Chinese born rights activist, journalist who is currently living in the US. In a video posted on the social media platform, X, Zeng dubbed the killing of Nijjar as an assassination claiming, «Today shocking revelations about the 'assassination ' of Sikh religious leader, Hardeep Singh Nijjar, in Canada have emerged from within the CCP.